Question 1

Which of the following term is often used to capture conceptualizations of marketing as an innovative, risk-taking, proactive area of managerial responsibility?&#10;A) Promotional marketing.&#10;B) International marketing.&#10;C) Entrepreneurial marketing.&#10;D) Social marketing.

Accepted Answer

The term "entrepreneurial marketing" is often used to capture conceptualizations of marketing as an innovative, risk-taking, proactive area of managerial responsibility. This approach emphasizes identifying and pursuing new opportunities, taking calculated risks, and being proactive in creating and delivering value to customers.

Question 2

According to your textbook, which of the following is not a reason for using advertising?&#10;A) To raise customers' awareness of a product or service.&#10;B) To explain a product or service's comparative features and benefits.&#10;C) To create associations between a product or service and a certain lifestyle.&#10;D) Build a competitive advantage.

Accepted Answer

The textbook describes building a competitive advantage as a reason for using advertising, so option D is not correct. Options A, B, and C are all valid reasons for using advertising according to the textbook.

Question 3

Cynthia is engaged in marketing activities that are directed toward establishing, developing, and maintaining successful relational exchanges. In so doing, Cynthia focuses on maintaining continuous relationships with all customers. Cynthia is probably involved in _____.

A) Entrepreneurial marketing.
B) Social marketing.
C) Relationship marketing.
D) Buzz marketing.

C

Accepted Answer

The description provided aligns with relationship marketing, which focuses on building and maintaining long-term relationships with customers through ongoing communication and personalized attention. This approach prioritizes customer satisfaction and loyalty over short-term sales goals.

Question 4

Which of the following is not a question marketers consider when they attempt to brand their companies and products?&#10;A) What are the benefits for the company?&#10;B) Who are you? (brand identity)&#10;C) What are you? (brand meaning)&#10;D) What do I think or feel about you? (brand responses)

Accepted Answer

Marketers do consider the benefits for the company when branding their products, so option A is not the correct question that they would not consider. Options B, C, and D are all questions that marketers consider when attempting to brand their companies and products.

Question 5

Ted is relying on a form of marketing that uses social networks (family, friends, neighbors, colleagues) to draw attention to his social venture's services by spreading messages and rumors about them, mostly through word-of-mouth. Ted is relying on _____________.

A) Entrepreneurial marketing.
B) Buzz marketing.
C) Viral marketing.
D) Guerilla marketing.

Accepted Answer

The answer of Ted is relying on a form of...

Question 6

Which of the following marketing techniques leaves advertising to customers themselves?&#10;A) Entrepreneurial marketing.&#10;B) Buzz marketing.&#10;C) Viral marketing.&#10;D) Guerilla marketing.

Accepted Answer

The answer of Which of the following marketing techniques leaves...

Question 7

Ron is a social entrepreneur who just started his social venture to address literacy issues in a developing country. He would like to use some marketing techniques but has very limited resources. He comes to you for advice. You would probably tell Ron to use __________.

A) Entrepreneurial marketing.
B) Buzz marketing.
C) Viral marketing.
D) Guerilla marketing.

Accepted Answer

Guerilla marketing is a cost-effective marketing strategy that involves unconventional tactics to promote the product or service. As Ron has limited resources, guerilla marketing would be the best option for him. It can help him to make the most out of his limited resources and reach out to the target audience in a creative and engaging manner. Additionally, guerilla marketing can generate buzz and word-of-mouth promotion, which is crucial in social entrepreneurship.

Question 8

An approach to marketing that relies mostly on bootstrapping, the creative use of available resources, and a highly targeted mix of innovative communication techniques is best described as ______________.

A) Social media.
B) Buzz marketing.
C) Guerilla marketing.
D) Viral marketing.

Accepted Answer

Guerilla marketing is an approach that relies on creativity and unconventional methods to promote a product or service. It often involves a mix of low-cost and high-impact communication techniques, such as public stunts, viral campaigns, and social media marketing. This approach is typically used by small businesses or start-ups that have limited budgets but want to make a big impact with their marketing efforts. Social media, buzz marketing, and viral marketing can all be components of guerilla marketing, but they each have distinct characteristics and may not necessarily involve a bootstrapping approach or highly targeted communication techniques. Therefore, C) Guerilla marketing is the best choice for this question.

Question 9

The following questions must be addressed by social ventures when they develop their marketing plans, except:&#10;A) How do we become financially viable?&#10;B) Who are the social venture's competitors?&#10;C) What is the social venture's position?&#10;D) With whom might the social venture cooperate?

Accepted Answer

While financial sustainability is important for any venture, the focus of social ventures is on creating social impact. Therefore, option A is not specific to social ventures' marketing plans. Options B, C, and D are important questions to be addressed in a social venture's marketing plan as they help to identify target audiences, differentiate the social venture from its competitors, and explore potential partnerships for achieving social goals.

Deck 9: Marketing for Social Ventures